**$5K incentive offered towards closing or rate buy-down with acceptable offer!**Welcome home to one of the most coveted lots in highly desirable Drakesborough. Perfectly positioned on a quiet cul-de-sac with peaceful wooded views creating the privacy you've been searching for. From the moment you arrive, the stunning curb appeal, manicured low-maintenance landscaping, and quintessential Southern front porch invite you to slow down, relax, and enjoy everything Lowcountry living has to offer. Worth noting, this home include a new roof, gutters, shed, and other key upgrades and updates throughout.Step inside and discover a thoughtfully designed floor plan that effortlessly blends functionality with style. Rich hardwood floors guide you from the welcoming foyer past aversatile flex space and elegant formal dining room before opening into the heart of the home. The spacious living room is warm and inviting, centered around a beautiful shiplap-accented fireplace flanked by custom shelving, creating the perfect gathering place. Expansive windows flood the space with natural light, while fresh paint throughout provides a bright, move-in-ready feel. The chef-inspired kitchen is timeless in design, featuring an abundance of crisp white shaker cabinetry, beautiful stone countertops, coastal-inspired hues, new stainless steel appliances, and plenty of workspace for entertaining or everyday living. Just off the kitchen, you'll appreciate the oversized laundry room with additional storage and a conveniently located and recently updated powder room. Upstairs, a spacious loft offers endless possibilities as a secondary living area, media room, playroom, or home office. French doors lead to the oversized owner's retreat--a true sanctuary complete with a private en suite featuring a relaxing garden tub, separate shower, dual vanities, and a generous walk-in closet. Three additional well-sized bedrooms, a shared full bath, and multiple storage closets provide room for everyone and everything. Outside is where this home truly shines. Enjoy year-round outdoor living from the large screened porch overlooking your fully fenced backyard retreat. Thoughtful drainage improvements ensure a dry and usable yard, while the storage shed offers space for tools, hobbies, and outdoor equipment. Whether you're envisioning a garden, firepit, play area, or outdoor entertaining space, this backyard is ready to become your personal oasis. Residents of Drakesborough enjoy an exceptional community with ponds, walking trails and more, all within the award-winning Dorchester District Two school system. Conveniently located near shopping, dining, military bases, recreation, major highways, and everything Charleston and Summerville have to offer, this home delivers the perfect combination of location, lifestyle, and value. Opportunities like this are rare--schedule your private showing today and experience why this Drakesborough gem is the one you've been waiting for.
Roam is your trusted partner for affordable home ownership. We help manage the assumption process from start to finish, enabling homebuyers to easily purchase their next home with a low-interest rate mortgage attached.
To qualify, you must meet the current FHA, VA, or USDA loan requirements depending on the type of loan you are assuming. This typically means a minimum credit score of 580, although most lenders prefer 620-640. Your debt-to-income ratio should be under the 50% max under FHA guidelines. Additional information such as employment history, explanations of income for each applicant, and asset verification for a down payment may be needed to process the loan.
An assumable mortgage is a type of home loan that allows a homebuyer to take over the existing mortgage terms from the seller, with no cost to the seller. Many government-backed loans, such as FHA and VA loans, are eligible for assumption, and millions of these mortgages are available.
When interest rates on mortgages are high, assuming a mortgage with a rate as low as 2% allows buyers to save up to thousands monthly compared to buying a home with a traditional mortgage at today’s average rates of 7%. A low-rate assumable mortgage could be the key to finding your dream home at an affordable price.
Roam has compiled available listings with low-rate assumable mortgages for you to browse. To get started, enter the city, state, zip code, or school district you’re interested in purchasing in. Utilize the search filters to narrow down your search. Click “Save search” to save your search preferences and activate listing notifications—we’ll email you as soon as new listings match your criteria.
Once you’ve found your dream home and ready to make an offer, schedule a call with a Roam Advisor directly from the listing. Your Roam Advisor will guide you through each step of the process, while also working directly with your agent, the servicer, and the seller to ensure you close on time.
When assuming the existing mortgage as part of a home purchase, the buyer has to cover the seller’s equity in the home. The seller’s equity is the purchase price minus the remaining mortgage balance. This amount must be covered in full through an all-cash down payment or by taking out a second mortgage.
Yes. Non-veterans can assume a VA loan, provided they meet the lender’s VA criteria. When a qualified buyer assumes a VA mortgage from a veteran or active-duty service member, the seller’s VA loan entitlement remains tied to the assumed loan until the buyer pays off or refinances the loan. This process restores the veteran seller’s entitlement, enabling them to use their VA benefit for a future home purchase.
Yes. All FHA loans are assumable by law as long as the buyer meets the FHA’s credit, income, and qualification requirements and obtain lender approval before assuming the loan (per FHA regulations effected December 15, 1989). Roam makes this process simple for buyers.
Generally, conventional loans are not assumable. In rare cases, a conventional loan may be assumable with lender approval. Use our search tool to find homes with assumable low-rate loans, or reach out to us if you’d like to confirm a specific home’s assumability.
